Virginia § 45.2-1617 Voluntary pooling of interests in drilling units; validity of unit agreements

Virginia Statutes

§ 45.2-1617 — Voluntary pooling of interests in drilling units; validity of unit agreements

Virginia § 45.2-1617

JurisdictionVirginia

Title 45.2Mines, Minerals, and Energy

Subtitle IVGas and Oil

Ch. 16Virginia Gas and Oil Act

Art. 2Gas and Oil Conservation

This text of Virginia § 45.2-1617 (Voluntary pooling of interests in drilling units; validity of unit agreements) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 45.2-1617 (2026).

Text

A.If two or more separately owned tracts are embraced within a drilling unit, or if there are separately owned interests in all or a part of any such drilling unit, the gas or oil owners owning such interests may pool their interests for the development and operation of the drilling unit by voluntary agreement. Such agreement may be based on the exercise of pooling rights or rights to establish drilling units that are granted in any gas or oil lease.

B.No voluntary pooling agreement between or among gas or oil owners shall be held to violate the statutory or common law of the Commonwealth that prohibits monopolies or acts, arrangements, contracts, combinations, or conspiracies in restraint of trade or commerce.

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A. If two or more separately owned tracts are embraced within a drilling unit, or if there are separately owned interests in all or a part of any such drilling unit, the gas or oil owners owning such interests may pool their interests for the development and operation of the drilling unit by voluntary agreement. Such agreement may be based on the exercise of pooling rights or rights to establish drilling units that are granted in any gas or oil lease.

B. No voluntary pooling agreement between or among gas or oil owners shall be held to violate the statutory or common law of the Commonwealth that prohibits monopolies or acts, arrangements, contracts, combinations, or conspiracies in restraint of trade or commerce.